Binghill Estates Limited had a string of customers until a swing in the market led to its 2023 administration, as papers provide insight to the shift to “reduced demand for rental properties and downward pressure on monthly rental incomes”.
Administrators’ initial documents showed that, “historically, many of the residential properties had been rented to energy companies on long term leases, however, more recently the properties had been rented on Private Residential Tenancy leases which include statutory 28 days notice periods for the tenant which made cashflow unpredictable”.
The Aberdeen company also had an interest in a quarry in England and a property in Detroit in the US, the latter of which was later sold. It…